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Oil Hits Six Year Low; Gas Prices Continue Downward Slide
December 12, 2014
Crude oil prices, and the price at the pump, are continuing to decline. On Thursday, crude oil fell to a close below $60 per barrel for the first time since 2009. Prices have nosedived since hitting a high of $110 a barrel in June 2014.
Gas prices are expected to fall to a national average of $2.50 or less per gallon by year’s end from the current mark of $2.62.
In the North Escambia area Thursday, gas prices were already down to $2.48 in Cantonment, while just above the $2.50 mark in Century. The Pensacola metro average on Thursday at $2.54, with one Navy Boulevard station at $2.41.
Pictured: The price of a gallon of regular unleaded was $2.48 Thursday afternoon in Cantonment. NorthEscambia.com photo, click to enlarge.
Comments
8 Responses to “Oil Hits Six Year Low; Gas Prices Continue Downward Slide”
CONTEMPLATING:
“I am not above the use of thermonuclear or conventional munitions in disposing of our enemies, providing we finish them off permanently.”
I guess we COULD vaporize anybody who bothered us — and every man, woman, child, kitten, puppy, spotted owl within 50 miles — but it seems excessive.
David for unvaporized children
Low fuel prices for the American consumer will amount to a stronger dollar for us.
When your dollar buys more fuel, you have increased surplus to divert for expenditures on other necessities and luxuries, which help to stimulate our overall economy.
As for these international dictators and bankers, when they get out of line, you hit them with such force that they are gone forever. I am not above the use of thermonuclear or conventional munitions in disposing of our enemies, providing we finish them off permanently.
When Americans started getting their heads pumped full of multiculturalism, globalism and international economic integration, they lost their sense of identity and nationalism. That is why we can no longer balance our budget or define and enforce our borders. No pride.
It was on public radio a week ago that big oil has already started shutting down wells, exploration wells and research, etc.
REGARDING:
“I say keep North American oil production in North American markets, for North American consumers.”
I say, Nah, leave control of personal property in the hands of its owners. Don’t steal it for THE STATE just so we can redistribute it to the people for less than it was worth.
We are on the supply side of the situation more and more lately. That means when war breaks out in some dictatorship in the Middle East, they can’t cut off our supply and force us to take sides. Further, if we can provide energy to others, they don’t have to support them either which also means we can cut off indirect funding of the terrorists and dictators. It also means money coming into the country for the American people.
David for a better world
Diesel is $2.89 in Robertsdale!!!
Supply and demand, the US and Fracking has caused a flood in the market. Once that oil price per barrel reaches say $58 per bbl. you’ll see the negative effects of men loosing their jobs over it. The cost of finding, drilling, producing and transportation of that oil to the gas pumps may help the American people but companies will start shutting wells in and stop drilling to make it economical again. Put it this way, if you worked for $7.25 an hour and it was cut 40%. Would you continue to work without cutting back or increase your productivity? $4.35 an hour sounds good if I’m paying you to work but sucks if your trying to make money…right?
When the Keystone pipeline is completed, increased production from Canada and the Dakotas will be piped to the coast and then shipped on tankers and sold on the international market in Rotterdam at higher prices.
I say keep North American oil production in North American markets, for North American consumers.
Many stations that were priced at $2.43 on Thursday were priced at $2.48 or $2.49 early Friday morning. For the life of me I dont understand why there was an increase.